Launchpad
Create fixed-supply instruments, open virtual-reserve markets, trade with explicit limits, and direct accumulated fees.
From issuance to an active market
Paxeer X Launchpad creates a native tokenfactory denomination, registers its ERC-20 pointer, and opens a virtual-reserve curve in one market-creation workflow. Human and agent-controlled businesses can issue instruments while trading agents buy and sell those instruments through explicit transaction permissions.
The instrument represents the issuer's declared terms. Creating a market does not establish equity, revenue rights, or a legal claim automatically. Keep the business identity, creator account, token address, and instrument description visible in your application.
- Choose a name, symbol, and fee strategy; fund the creator with the configured quote asset and transaction gas.
- Submit
createMarket(string,string,uint8)to the Launchpad precompile. - Read the confirmed
MarketCreatedevent and retain the token pointer and native denomination. - Inspect reserves and a fresh buy or sell quote before signing an order.
- Operate fee distribution and market pause controls under the appropriate authority.
Creation and supply
The creation fee is paid in the configured quote denomination to the treasury. Launchpad administers the new denomination and mints its entire fixed supply into module escrow. Market indices start at one; their tokenfactory subdenominations are lp1, lp2, and so on. The creator begins as guardian and fee-rights holder.
Names contain at most 64 bytes and symbols at most 16. Both are nonblank UTF-8 without surrounding whitespace or control characters. Market supply and initial reserve settings come from protocol parameters rather than a per-call supply argument.
Curve reserves and executable prices
A market tracks virtual quote reserve, real quote balance, and token reserve. Effective quote reserve is the sum of virtual and real quote reserves. Virtual liquidity shapes the pricing curve; it is not a funded quote balance that can be withdrawn. Sells remain constrained by real quote liquidity.
The market record includes total supply, cumulative volume, creation time, accumulated fees, pause state, and an eight-slot price-snapshot ring. Use getPrice for a reference price and quoteBuy or quoteSell for an amount-specific estimate including fee basis points and fee amount.
Trade with slippage and expiry limits
The precompile is 0x0000000000000000000000000000000000001017. Buy and sell accept the token pointer, integer input amount, minimum output, recipient, and Unix deadline. Buy input is the quote asset; sell input is the launched token. Both calls are nonpayable: EVM native value is not the quote payment.
// launchpad is an ethers Contract using the Launchpad ABI and signer.
// token, recipient, and quoteIn come from the selected market and user input.
const [estimatedOut] = await launchpad.quoteBuy(token, quoteIn)
const minOut = estimatedOut * 9900n / 10000n // 1% tolerance
const deadline = BigInt(Math.floor(Date.now() / 1000) + 120)
const tx = await launchpad.buy(token, quoteIn, minOut, recipient, deadline)
await tx.wait()This template assumes the connected account has the required native quote balance and gas. The token pointer identifies the market; do not substitute the quote asset address. A stale quote does not reserve liquidity. The signed minimum output and deadline protect execution when reserves or fees change.
Buy and sell fee behavior
Fees are charged in the input asset. On a buy, the protocol share of quote fees goes to the treasury and the remainder accumulates for the market's fee-rights holder. On a sell, token fees remain in the token reserve. Dynamic fees use market age and volatility, clamped to configured bounds; a quote supplies the effective rate for that trade.
Choose where accumulated fees go
| Value | Strategy | Execution |
|---|---|---|
| 0 | Claim | claimFees(token, recipient) pays accumulated quote fees to the chosen recipient. |
| 1 | Burn | executeBurn(token) sends accumulated quote fees to the dead account. |
| 2 | Airdrop | executeAirdrop(token) opens a holder distribution epoch. |
| 3 | LP rewards | executeLpRewards(token) adds accumulated quote fees to real curve reserves. |
The fee-rights holder changes strategy with setFeeStrategy(token, strategy) and executes the selected strategy. Burn here directs quote fees to the dead account; it does not burn the launched token's fixed supply. LP rewards reinforce the market's quote backing rather than issuing a separate LP token.
Holder airdrop epochs
Each airdrop fixes its distribution amount, holder history, supply, payout denomination, and block height. Entitlement is the integer floor of epoch amount multiplied by the holder's boundary balance divided by boundary supply. Later transfers do not rewrite the historical entitlement. A holder claims the current epoch through claimAirdrop(token); each holder claims an epoch once. Use claimAirdropForEpoch(token, epoch) to claim a specified opened epoch.
Permissions and market controls
| Actor | Authority |
|---|---|
| Creator | Funds creation and starts as guardian and fee-rights holder. |
| Guardian | Pauses and unpauses market trading. |
| Fee-rights holder | Changes fee strategy and executes fee disposition. |
| Trader | Spends its own input balance and selects recipient, minimum output, and deadline. |
| Token holder | Claims eligible airdrop entitlement. |
| Governance authority | Updates protocol parameters through the governance-authorized parameter message. |
Paused markets reject swaps. Orders also reject expired deadlines, zero input, zero recipient, insufficient balances or real liquidity, and output below the signed minimum. These are transaction conditions your interface should explain before prompting for a signature.
Read markets and track receipts
getMarket(token) reads one market; getMarkets(offset, limit) paginates discovery; getMarketCount() returns the total; and getMarketsByCreator(creator) groups issuance by creator. getReserves, getPriceSnapshots, and getFeeBps support trading views.
Index MarketCreated, Swap, FeeRecorded, FeeStrategyChanged, PauseToggled, and distribution events. Reconcile event observations against the confirmed market record and balances before showing a completed issuance, trade, or claim.
Protocol settings
The default quote denomination is uusdl. Reference defaults set virtual quote reserve to 10000000000, token supply to 1000000000000000 base units, and creation fee to 100000000 quote base units. Fee bounds start at 10–300 basis points with a base of 30, and the protocol receives 1000 basis points of buy fees. Governance can update these values; read current settings before presenting a launch cost or fee estimate.
Continue with asset registration and supply, exchange trading, precompile integration, and SDKs.